Since the ridesharing industry is relatively new, there are a lot of questions surrounding insurance. Whether you’re the passenger, the driver, or the other motor vehicle involved in an accident involving a ridesharing company, there are certain rights and concerns you should be aware of.
There have been various accidents involving ridesharing companies in the past, and these accidents raised many questions. So what happens if you’re in an accident while driving for Uber or Lyft? Are you covered under the company’s auto insurance policy?
1. Are You Covered Under Uber’s or Lyft’s Insurance Policy?
The first question we need to answer, is whether or not you are covered under the ridesharing company’s insurance. Both Uber and Lyft have insurance policies that give high levels of coverage to it’s drivers. It’s important to read the fine print to understand exactly what coverage applies when. Mainly because the type and amount of coverage varies depending on what stage the driver is in.
For example, when an uber driver is on the way to pick you up and while giving you a ride, they have the following coverage:
- Third-party liability coverage for accidents that are the driver’s fault
- Uninsured/underinsured motorist bodily injury coverage
- Collision and comprehensive coverage for your vehicle (with a deductible of $1,000 for Uber and $2,500 for Lyft) as long as the driver maintains an auto insurance policy that includes this coverage while not driving for Uber or Lyft.
2. Are You Covered By Your Own Policy While Driving for Uber or Lyft?
This question is a bit trickier. Honestly, there really isn’t a straight answer. It all depends on your insurance policy. The best way to find out whether or not you are covered, is by calling your auto insurance company. hey could try to deny a claim, as you were providing a commercial driving service, which may not be covered under a personal policy.
One solution is to find a policy that does cover rideshare drivers. Another possible solution is to consider purchasing a commercial auto insurance policy that covers you while you’re driving for Uber or Lyft.
It’s important to remember that some of Uber and Lyft’s coverage is contingent. This means that you’re only covered by the company’s policy if you already maintain similar coverage on your own auto policy. So it’s best if you you have those policies in place to ensure that you are covered.
The Ridesharing Coverage Takeaway
Auto accidents involving rideshare companies can be a bit confusing. However, it’s best to understand both the rideshare company’s insurance policies and your own to ensure that you are covered.
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